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Big gains for cattle futures ahead of direct trade

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Chicago Mercantile Exchange live and feeder cattle futures were sharply higher, supported by last week’s direct business and optimism about this week’s trade. Feeders picked up additional support from the lower move in corn. February live was up $3.42 at $171.92 and April was $2.25 higher at $174.50. January feeders were $3.12 higher at $225.42 and March was up $3.35 at $226.45.

Direct cash cattle markets were mostly quiet. The day’s big feature was the distribution of the show list, which looks mixed, larger in Kansas, Nebraska, and Colorado, smaller in Texas.

Big gains for cattle futures ahead of direct trade